Playstudios, a publicly-traded mobile gaming platform and developer, is venturing into the web3 world with a new blockchain division and investment fund.
The gaming entity, which owns popular mobile apps like Tetris, is now launching a new blockchain-focused sector, which will use “rewarded play” to leverage blockchain technology and deliver more rewarding experiences to users across its portfolio of games. It’s also announced a $10 million investment, Future Fund, to back companies building rewarded play options.
In the past, the gaming studio accumulated a massive portfolio of free-to-play games – like MGM Slots Live, myVEGAS Slots, and others – that provide players the ability to earn real-world rewards through its loyalty program. To date, its community has used its in-app loyalty points to purchase over 10 million rewards, the company said.
“As we enter into the web3 space, we’ve kind of been doing play-to-earn for 10 years so I’d argue we’re the pioneers in the world of play,”...
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